{"id":8104,"date":"2023-05-01T13:34:52","date_gmt":"2023-05-01T17:34:52","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=8104"},"modified":"2023-05-01T13:34:52","modified_gmt":"2023-05-01T17:34:52","slug":"push-vs-pull-payments","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/push-vs-pull-payments\/","title":{"rendered":"Push vs Pull Payments"},"content":{"rendered":"\n
“Pull” and “push” payments refer to two different methods of transferring funds between parties in a transaction. The main difference lies in who initiates the transfer and how control is exercised over the transaction.<\/p>\n\n\n\n
Advantages of pull payments:<\/strong><\/p>\n\n\n\n Disadvantages of pull payments:<\/strong><\/p>\n\n\n\n Advantages of push payments:<\/strong><\/p>\n\n\n\n Disadvantages of push payments:<\/strong><\/p>\n\n\n\n In summary, the main difference between pull and push payments is the party initiating the transaction and the control each party has over the transaction. Pull payments are initiated by the payee, while push payments are initiated by the payer.<\/p>\n","protected":false},"excerpt":{"rendered":" “Pull” and “push” payments refer to two different methods of transferring funds between parties in a transaction. The main difference lies in who initiates the transfer and how control is exercised over the transaction. Advantages of pull payments: Disadvantages of pull payments: Advantages of push payments: Disadvantages of push payments: In summary, the main difference […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"blocksy_meta":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable":" “Pull” and “push” payments refer to two different methods of transferring funds between parties in a transaction. The main difference lies in who initiates the transfer and how control is exercised over the transaction. Pull Payments:In a pull payment system, the payee (the party receiving the funds) initiates the transaction by “pulling” the funds from the payer’s account. This method requires the payer to provide their account information to the payee, who then uses this information to request the funds from the payer’s bank or financial institution. Common examples of pull payments include credit card transactions, direct debits, and recurring…<\/p>\n","category_list":"","author_info":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable_v2":" “Pull” and “push” payments refer to two different methods of transferring funds between parties in a transaction. The main difference lies in who initiates the transfer and how control is exercised over the transaction. Pull Payments:In a pull payment system, the payee (the party receiving the funds) initiates the transaction by “pulling” the funds from the payer’s account. This method requires the payer to provide their account information to the payee, who then uses this information to request the funds from the payer’s bank or financial institution. Common examples of pull payments include credit card transactions, direct debits, and recurring…<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num_v2":"0 comments","yoast_head":"\n\n
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In a push payment system, the payer (the party sending the funds) initiates the transaction by “pushing” the funds to the payee’s account. The payer instructs their bank or financial institution to transfer the funds to the payee’s account, and the payee’s account information is not required. Examples of push payments include bank wire transfers, ACH transfers, and some mobile payment apps like Venmo and Zelle.<\/li>\n<\/ol>\n\n\n\n\n
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